Bank od regarding
ABHI KUMAR (710 Points)
14 September 2022
bank od interest nd bank processing charge can we claim in profit nd loss account
3 Replies
veerendar singh
(tax consultant)
(3301 Points)
Replied 14 September 2022
Yes surely.
in fact you must claim it to find your true profit
in fact you must claim it to find your true profit
kanavu kumare
(4 Points)
Replied 14 September 2022
Yes.You can taken OD interest to interest ledger and processing charges to bank charges ledger
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 17 September 2022
Interest on Over draft can be claimed and processing charges if debited to bank account then it can be claimed.
Else Journal entry has to be passed if it is adjusted in sanctioned amount
Else Journal entry has to be passed if it is adjusted in sanctioned amount
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